Here's a tip that might help. I went to Canadian Tire last week to pick up a cheap pair of vise grips to convert to Arnie's ferrule removal tool. While I was standing in line at the checkout counter (you spend a lot of time doing that at Canadian Tire), I saw the Mastercraft Baby Boa Constrictor Strap Wrench on the display rack. The strap wrench has a plastic handle and a rubber strap that tightens around the object you are trying to twist or rotate (it's similar in concept to an automotive oil filter wrench). I thought it might work on ferrules so I bought one.
So far it works great. Just wrap the strap around the ferrule as tightly as you can and turn the handle. Of the five ferrules I've tried so far, it has successfully loosened all of them (three Titleist PTs and two of my own clubs in which the ferrules were slid over a thin layer of epoxy on the shaft when the clubs were assembled). Your mileage may vary but, at the price, it's worth a try.
